Astra Space, the launch company that went public in 2021 at a $2.1 billion valuation, is going private again after months of burning cash and failing to secure alternate investment.
The deal is expected to close in the second quarter of 2024, at which time Astra will cease trading on the Nasdaq.
In an investor presentation from February 2021, Astra touted a “mass produced portable launch system” that could launch from anywhere in the world.
At the time Astra completed its SPAC merger it also acquired Apollo Fusion, an electric propulsion developer for spacecraft, with the aim of integrating those systems into an Astra satellite constellation.
That constellation never came to fruition, however, and while the company did succeed in selling many Apollo Fusion propulsion systems it has struggled to turn that backlog into revenue.
CES 2024 or bust, Superpedestrian e-scooters hit the auction block and Fisker struggles to meet sales goalsThe Station is a weekly newsletter dedicated to all things transportation.
I appreciated a bit of rest and recovery, just in time for CES 2024.
The Big Three U.S. automakers (Ford, GM and Stellantis) won’t have big splashy displays and announcements as in past years.
However, there will be plenty of automotive, and more broadly, transportation companies and startups in attendance.
Shell Ventures, InMotion Ventures, Porsche Ventures, and Revo Capital also participated.
But because of the country’s naturally dry and biodiverse climate, it’s particularly vulnerable to extreme weather events that have been exacerbated by climate change.
Australia has experienced its fair share of a climate catastrophes, which has only fueled its climate tech startups into action.
The hype for climate tech in Australia is real, as long as it can be sustained.
Local VCs are most excited about the sector this year, with climate and cleantech dominating in funding and deal count in Q3 2023.
In 2022, climate tech in Australia raised $553 million in capital, compared to $338 million in 2021, according to a report from Climate Salad, a community of Australian climate tech stakeholders.
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